The chairman of the Egyptian Company for Airports, Nagy Somaweel, has confirmed that the firm, established recently to build and manage airports, has decided to offer some of its shares to the public, said reports.
This would make it the first joint stock company in the field of airport management in Egypt, said Somaweel.
The date of the offering has not yet been decided, he added.
Somaweel said that the state-owned Holding Company for Civil Aviation currently owned all of the firm's shares.
According to Somaweel, the company will offer BOT contracts to private companies for the construction of airports, and will manage and maintain existing airports. It will also oversee all airports, whether private or state-owned, with the exception of the Cairo International Airport, which is considered a separate, self-supervised entity.
On May 20, the company announced it was seeking investors to bring Assiut Airport up to international standards so that it can serve the rest of Upper Egypt and encourage tourist development in the southern part of the country – Albawaba.com
© 2001 Al Bawaba (www.albawaba.com)
